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Mogo Inc. (MOGO) Stock Rallies on MogoSpend Support for Apple Pay, Google Pay and Samsung Pay

MogoSpend now allows users to have access to more options for contactless mobile payments as the company nears earnings release.


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Things have come to good tidings as Mogo Inc. (MOGO) nears the third quarter earnings release. Mogo shares are rallying today after the company announced that its MogoSpend now supports Apple Pay®, Google Pay™, and Samsung Pay.

The stock made a strong move in the premarket on Friday as it opened the day at $2.31, up 73% from the previous close share price of $1.34. MOGO is trading with a heavy volume continuing the bullish run with 56 million.

As we write this at 11:34 A.M. EDT, MOGO was trading at $1.79 soaring by 33%.

This is a great development by Mogo just ahead of its Q3 financial results. MogoSpend is the company’s digital spending account, which comes with a Mogo VisaPlatinum Prepaid Card.

MogoSpend provides its users to access more options for contactless and cashless payment through smartphones or other devices. The users will continue to get all the premium services with high security to use Apple Pay, Google Pay, and Samsung Pay.

The Canadian Fintech firm has designed MogoSpend, the first of its kind, to provide a secure and helpful network to all the citizens of Canada to improve their financial health. In addition, the objective of this payment network is to help clean the planet through automatic carbon offsetting and better spending control.

Some key features that make MogoSpend a great future payment network is that it helps users obtain zero debt and zero CO2 lifestyle by automatically neutralizing one pound of CO2 for every dollar spent. The members of the digital spending account can track their spending history on monthly basis in order to see their progress, including a 3-month average spend.

The global crisis has given strength to payment accounts like MogoSpend and other wallets. The adoption of contactless payment during the pandemic has grown swiftly. MogoSpend with the support of three giants Apple Pay, Google Pay, and Samsung Pay will drive more audience and help the digital account to grow its user base.

According to a study, a 69% increase was recorded in-retailercontactless transactions in the U.S. since Jan. 2020.

The CEO of the company, David Feller believes that the recent additions will pave way for new users, giving them more options to make contactless purchases using MogoSpend.

Mogo Inc. (MOGO) also updated that it has changed the time of its third quarter 2020 financial results conference call to 11:00 AMm. EDT on Tuesday, Nov. 10, 2020.

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